Hyundai Motor Group wrapped up its year-end strategy meeting on Tuesday, with plans to expand its SUV and new energy vehicle lines next year. The group, the owner of South Korea’s two biggest carmakers Hyundai Motor Co. and Kia Motors Corp., will introduce more sport utility vehicles tailored to local markets and new energy vehicle lines to spur growth in 2017, the company said. Hyundai Motor Group headquarters in Seoul. (Yonhap)Both carmakers will unveil new small SUVs next year in Korea and in

Dec. 20, 2016

Last week, Hyundai Motor and its affiliate Kia Motors won a total of four design awards at the Good Design Awards in the US. Hyundai Ioniq, the Kia K7 -- also known as the Kia Cadenza overseas -- the Kia Telluride and Genesis’ concept car “Vision G” were among 13 vehicles awarded in the transportation category at the oldest and the most prestigious architecture and design awards.  Genesis’ concept car “Vision G”　The annual awards are given to products with creative designs in various areas joint

Dec. 19, 2016

Hyundai Card Corp. has rolled out diverse products and services to reinvigorate itself into a digital-based company under the “Digital Hyundai Card Initiative” announced in 2015.The measures have included the launches of a string of products and systems to provide digital solutions needed for consumer finances.In recognition of such efforts, the company was given an award by the Ministry of Science, ICT and Future Planning in the 2016 Data Quality Certification hosted by the ministry in November

Dec. 18, 2016

Kia Motors’ hybrid crossover utility vehicle Niro has been recognized by the Guinness World Records for the lowest fuel consumption, the company said Friday. Kia Motors’ hybrid crossover Niro (Kia Motors America) 　The 2017 Niro EX traveled 5,977.9 kilometers from Los Angeles to New York City between Dec. 4 and 11, using a total of 183.6 liters of gas. This marks a record of 3.7 liters per 100 kilometers, for the lowest fuel consumption drive across the US from coast to coast.The official fuel ec

Dec. 16, 2016

South Korea’s leading automaker Hyundai Motor Co. is planning to show off its self-driving technology at the largest consumer electronics show in Las Vegas next month, the company said Thursday.Two models of Hyundai’s Ioniq hatchbacks -- one electric and one hybrid -- will hit the road without a driver during the annual Consumer Electronics Show, which will be held from Jan. 5-8. Hyundai unveiled its self-driving Ioniq concept car at the the Los Angeles Auto Show on Nov. 16. The car has received

Dec. 15, 2016

South Korea’s auto exports to Algeria soared in October as Hyundai Motor assembly plants have begun operations there, a trade agency said Wednesday. Exports of passenger cars to the North African country jumped 51.5 percent in the first 10 months of this year to $92.56 million due to high growth in October, according to the Korea Trade-Investment Promotion Agency. Shipments of commercial vehicles also rose 11.1 percent to $5.75 million during the same period.  The increase came

Dec. 14, 2016

The Korea Herald is publishing a series of articles on moves made by the companies and governments of South Korea, China and Japan in entering the new Industry 4.0 era. This is the third installment. -- Ed. Shenzhen, CHINA -- Displayed in front of the main building of the BYD Auto headquarters in Shenzhen, China, are the company’s signature lineups: the Tang SUV, Qin compact sedan, compact crossover E6, pure electric busses K8 and K9, as well as its latest brainchild, the Skyrail monorail

Dec. 13, 2016

Hanwha Engineering & Construction Corp. held the 2016 Offshore Wind Conference in Seoul on Wednesday in a bid to boost cooperation for the Sinan power plant project. During the conference, 150 experts from domestic and foreign companies, including Doosan Heavy Industries and Construction and FUGRO, gathered to discuss business and technological issues concerning offshore wind power. “The interest for offshore wind power has increased amid global efforts to cut greenhouse gas emission and new ene

Dec. 8, 2016

Premium carmaker Mercedes-Benz became the first foreign carmaker to sell more than 50,000 cars within a year in South Korea, industry data showed on Wednesday. The Korean unit of German carmaker Mercedes-Benz sold 50,718 cars in the first 11 months this year, increasing more than 20 percent from a year ago, according to data from Korea Automobile Importers and Distribution Association.  Boosted by sales of three new E-Class sedans and sport utility vehicle models, it is set to become

Dec. 7, 2016

The Korea Herald is publishing a series of articles on the moves made by the companies and governments of South Korea, China and Japan in entering the new industry 4.0 era. This is the second installment. -- Ed. Shenzhen, CHINA -- “This is the future of our company and something China will be really proud of,” Wang Fan, communications director at the world’s biggest drone maker, Dajiang Innovation Technology Co., said in front of a displayed product. And it wasn&rsquo

Dec. 6, 2016

A large-scale investigation against Lotte Group’s businesses in China is increasingly seen here as a retaliation against the company’s decision to provide its golf club as a site to deploy the controversial US advanced missile defense system. Local media reported on Monday that Lotte appeared to be the sole foreign company under investigation in China, citing an anonymous industry source. “There are some companies which received a fire inspection or tax investigation but no co

Dec. 5, 2016

Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, a news report said Saturday.Under the expected contract, valued at US$650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, according to TradeWins, a global shipping news service. This undated file photo, provided by Hyundai Heavy Industries Co., shows a container ship. (Yonh

Dec. 3, 2016

The tax investigation and safety inspection facing Lotte Group in China this week has sparked concerns Friday that the neighboring country is pressuring Korean companies in retaliation over South Korea‘s decision to deploy a US advanced missile defense system here. The Chinese government has not revealed the reason behind the large-scale inspection, but analysts believe it is linked to the decision by Lotte Group to host the Terminal High Altitude Area Defense system on a Lotte-owned golf

Dec. 2, 2016

Ford’s luxury car division Lincoln Motor launched the all-new 2017 Lincoln Continental in Korea on Wednesday. The premium sedan is the 10th generation of the Lincoln Continental, reintroduced at a motor show in 2015 after a 13-year hiatus. The first generation was made as a holiday car for then-Ford president Edsel Ford in 1939. “Ford grew more than 150 percent in the five years in Korea. With the launch of the Lincoln Continental, we plan to accelerate the growth,” Kumar Galhotra, president of

Nov. 30, 2016

South Korean prosecutors on Tuesday sought heavy prison terms for those responsible for toxic humidifier sterilizer products that claimed many lives in the country.In the final hearing at the Seoul Central District Court, prosecutors have asked the court for a 20-year prison term for Shin Hyun-woo, a former CEO of Oxy Reckitt Benckiser, the Korean unit of a British household goods maker."The accused is the root cause of the massive tragedy," the prosecutors said. "We have no choice but to punish

Nov. 29, 2016

Posco on Tuesday hosted its 2016 Partners Day to laud the efforts of shared growth and reward excelling companies.Posco Chairman Kwon Oh-joon delivers a speech at the company’s 2016 Partners Day event in Seoul, Tuesday. (Posco)The eighth annual event held at Posco Center was attended by Posco Chairman Kwon Oh-joon, outside figures such as Korea Commission for Corporate Partnership Chairman Ahn Choong-young and some 120 company officials and representatives of suppliers, client companies and part

Nov. 29, 2016

HDC Shilla Duty Free, currently preparing a bid for a new duty-free license in Seoul next month, said it plans to build a “millennial duty-free shop” aimed at young travelers coming independently by introducing high-tech services. Millennials refer to those born from the 1980s to early 2000s.This age group is considered to be independent with high consuming power, opting to travel alone rather than through tour agencies’ group itineraries. They are considered to be friendly towards South Korea’s

Nov. 25, 2016

South Korea’s largest carmaker Hyundai Motor aims to sell 100,000 units of its new Grandeur, a company executive said at the official launch event Tuesday. “Before we began receiving preorders three weeks ago, I was worried because of the prolonged economic recession and end of benefits for the individual consumption tax and competition,” Lee Kwang-guk, an executive vice president of Hyundai Motor, told the media. ”But the record-breaking preorders have made me confiden

Nov. 22, 2016